The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-08
FINANCE and COMMERCE.
HONEY 8 TO 8 PER CENT, NEW
YORK EXCHANGE l.S PREM.
Cotton Qniet-MiddllDg Cotton, 10sc
Sales Today 80
Bales.
APPEAL OFFiCE,


THURSDAY EVENING. July 7, 1SS7.I
Money rates unchanged at to s per cent.
for loans, the outside figure prevailing.
There was quite lively bidding at the stock
call board meeting today, but the only tran
sactiOn recorded was $1,000 Of Memphis Tax
Ing District 4'-s6's at 800.
The cotton market IL improved In tone and
prices improved. A leading New York cot
ton circular. of date the It'll, has the follow
ing to say as to the future market: "Busi-
ness was less active, but the tone rather
better and prices higher, tho old crop show
ing at one time CO., points mp. Some cover
ing took place, but tho shorts" were not
pressed With any severity and appearances
seemed to show that at the gain made con-
siderable cotton was marketed. Spots in the
meantime were firm and in good spinning
demand, and the late months held ~ we'll
In the face of continuous favorable crop ac-
counts. There IL an impression that some
sort OF manipulation Of old crop Is taking
place, but its character Ia not clear. At the
close the tone was rather easy at only small
fraction above last evening""
The first bale Of new cotton, crop OF the
season lSs7-SS, was sold at Albany Ca, on
the 5tb instant. II weighed $50 lbs; grade
low middling and brought zoo. 1t was gem
orally known that the crop was considerably
In advance Of last season, but that Georgia
should captare the honors Of the first bale
from Texas was unexpected. The first bale
last year appeared at Galveston, July 10th.
but this years bale 10 said to be the earliest
since 1882, when a bale appeared at Houston.
Texas, on tho 9TH Of Juno.
The general trade Of Memphis keeps up
wonderfully we'll, something unusual during
the summer months, but this Is explained by
merchants, who say the country is In pros
perous condition, and merchants and plant
ers are In a position to command very liberal
credit, which Is reinforced by the hne cotton
crop prospects. A boom in business lie sn-
ueipatsd next season, and every effort will
be made TO extend and increase the trade
and run NJ the oott n receipts to 10000 or
more bales Ths feeling 10 general among
business men that the commercial prosper
ity Of the Bluff City has just begun.
Mr. A. Boucheran has issued a statement
Of the rice and sugar crops Of Louisiana Of
1861, and in which the following valuable
facts are given. The rice crop was ISL LII
barrels Of rough rice, or S37 ,993 barrels oil
clean rice, weighing Ss,S65,s7O pound, net
being about 9 per cent. lees than the pre-.
Vious crop. The estimated acreage In ric,
last year was 70. ga acres.
The total PRODUCTION Of sugar was 1859
hogthoads-lsl,l 23. s91 pounds net, say sO.sj!
tons Of 22iO pounds each, against l2I ,95s toni
previous crop. The growing crop lie In .
highly prosperous condition and II nothini
happens to darken tho outlook there IL nc
doubt II will be large, perhaps the larges
since the civil war.
IMPORTS.
Three bbls apples. 20 pkgs bacon, $50 pkg
boots and shoes, lag SKIS coffee, 1850 SKIS cot
ton seed, 1856 pkgs dry goods, % pkgs eggs, 4s'
brls -four, $50 pkgs hats, 60,OgO feet lumber
II pkgs liquors, 100 bu oats, 7 brls potatoes
100 brls sugar, lll pkgs tobacco and $500 b.
wheat.